Why emergency in power sector is on hold - FG

Gbola Subair, Abuja - 13.02.2008

THE Federal Government has disclosed that it was not in a hurry to declare a state of emergency in the power sector.

Vice President Goodluck Jonathan made this known on Tuesday in Abuja while declaring open a seminar on banks and the Nigerian economy and the launch of N50 billion micro-credit fund.

Explaining why the Federal Government had not declared emergency in the power sector, the vice president disclosed that the government was still studying the situation, adding that they would not declare an emergency on a sector they did not know much about.

Commenting on the theme of the seminar, Jonathan said it was appropriate following the successful completion of consolidation exercise in the banking sector.

Emphasising private-public sectors participation in the economy, the vice president stated that because of the enormous resources required to provide infrastructure in the country, the cooperation of the private sector was needed to develop the economy.